Monthly blog by senior staff on public policy + updates.
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When it comes to economic forecasts, I tend to be a “glass-half-full” kind of guy. Yes, there is some probability that gas will rise to $20 per gallon and we’ll start riding horses again. I think it more likely that gas prices will fall back to $3 per gallon and there will again (sadly) be a market for the Hummer.
My natural optimism was dealt a blow by a new assessment of fast-growing firms from the Small Business Adminstration (SBA). The study is an adaptation of the work of David Birch of Cognetics from the 1980s and 1990s. Firms with rapid revenue growth were dubbed “gazelles” by Birch. He found that these firms were responsible for most of the nation’s employment growth.